Fiat or crypto? That is a question which gamblers tend to ask more and more often in our modern fast-changing world. Here, at 100casinos.top we shall give you an insight to the major differences and help you finally make a decision that will fit your needs.
Fiat casinos are casinos that accept deposits and withdrawals only in official government currencies, such as British pound and USD. They already had been there for a while and that is the reason there are numerous mature and developed fiat currency casinos. What are the advantages of gambling at online casinos?
Fiat gambling is easier to comprehend as the absolute majority of people had used money in the past and still do. Also when you want to bring in your winnings it is much easier to calculate.
It’s not a secret that crypto tokens are not that stable. Their value is volatile and can fluctuate by great amounts across short time periods. Fiat money tends to be much more stable in general as it’s being watched over and stabilized by various governmental institutions.
That unique feel
When you win 100 dollars, you can certainly imagine the bill in your mind, feel it, love it. In the case of crypto tokens, there are no physical objects directly linked to them and therefore they are unable to provide that unique feel.
Crypto gambling is considered, by some, to be the next step of evolution. And although here, at 100casinos.top we are not that fanatic, we do agree that crypto gambling does have significant advantages over fiat money casinos.
A great vantage point of betting with cryptocurrencies, as in many countries the taxation of cryptocurrency profits is non-existant. In turn, that means that you do not have to pay the gambling tax of the profits you’ve made. Neat!
Your personal data is more secure, as crypto money wallets usually do not require you to input your personal information. That means that there is no personal data to steal. Also, because of the advanced blockchain encryption, the data you do have on the account is highly secured by default.
Although there are many scam-coins, there are also quite a few cryptocurrencies that are a good investment. With fiat currencies, the amount of real money is always the same, with a Bitcoin account, for example, the amount of real money can vary. At the very beginning, in 2009 the price of one Bitcoin was 0,003$, now, at the moment this article publishing it is at +9000$. Same principle applies to many currencies we have nowadays. That means that having a cryptocurrency wallet by itself can generate profit and if you make even more profit from gambling you are more successful, than many investors. We have a broad article where we discuss this matter here
Transparency and Trust
Thanks to blockchain technologies the era of provably fair games has begun. For many games, such as dice a set of outcomes is created before you even start playing and is stored in a separate file (secret hash), and those outcomes can be revealed after the decryption file has been released (revealed secret). Provably fair games make the middle-man fraud practically impossible meaning you can be sure that you are playing against luck and not the casino.
Transaction speeds and costs
Although some fiat money casinos do accept money from the gamers account in a blink of the eye, but in some cases, it takes hours, even days for your money to land on the casino’s deposit account, same thing with withdrawals. Some fiat casinos also deduce taxes from your deposits as well as transaction costs. With the cryptocurrencies, it’s a completely different story, the transactions usually take 15 to 40 minutes to finalize and the transaction costs are cheap as chips, unlike the quite expensive transaction costs associated with banks.
Hi-low bet spread
One of the most important benefits to cryptocurrencies is that it’s split into satoshis. Meaning the wagers can be as small as 0,00000001 of the token value. It means that you can bet very little sums to get familiar with your tactics and enjoy the games at almost no costs. On some online casino websites like the BitDice.me
the minimum bet is 0,00000001 DOGE coins, a sum that equals to 0,0026$ divided by 100 000 000. Even cheaper than the price of air.
After we’ve gone through major benefits of the casinos from both worlds, what conclusion can we make? Fiat money online casinos are easier to understand, the currencies they use are more stable as they are controlled by the government and they have been there since 1995. That means they would suit players that already have their own strategies suited for fiat casinos that come from countries where gambling tax is low and the banks do not block accounts that are connected to gambling. Crypto casinos are more suitable for the crypto-age gamers, they offer a much wider bet spread, more transparency and lower charges as well as better speeds. They also provide players with unique investment opportunities, as some crypto coins are showing a trend to grow on, some of them at a huge rate. If you compare them head-on, the crypto casinos seem to be the future to us, as they are better in almost every aspect. They seem to have the latest features as well. We do recognise that fiat casinos can still make a good comeback and provide us with new features in the future and that the status of cryptocurrencies changes all the time, but keeping a sight the nearby future, crypto casinos are in the lead.